Travolta stars as John Gotti in the Kevin Connolly- directed film, which also features his wife Kelly Preston and daughter Ella Bleu Travolta.
Travolta said that he and Lionsgate had agreed to cancel its rollout, and he had then bought it back off them so it could get a wider release with a different distributor.
"Unfortunately, the reports were speculation bordering on fake news. Lionsgate was planning on a minimal release, and I did an investigation into people who might have the interest and financial wherewithal to better release it.
The film is about Gotti, the head of the Gambino crime family who spent the last decade of his life in prison before dying of throat cancer in 2002.
Disclaimer: No Business Standard Journalist was involved in creation of this content